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COMP partners with Monash University and Collinstar Capital in stimulating the growth of blockchain and cryptocurrency

06 Oct 2017

We are pleased to announce that the Department of Computing (COMP) of The Hong Kong Polytechnic University (PolyU) entered into a Memorandum of Understanding (MoU) with Monash University and Collinstar Capital to collaborate for the development of blockchain and cryptocurrency research by establishing Monash-HKPU-Collinstar Joint Laboratory.

A MoU signing ceremony was held on 3 October 2017 at Monash University’s Clayton campus in Australia, which officially marked the start of the collaboration. Prof. Qin Lu, Professor and Interim Head of COMP, signed the MoU with Prof. Marc Parlange, Provost and Senior Vice-President of Monash University and Mr Jacob Cheng, Managing Director of Collinstar Capital at the ceremony.

With the increased emphasis on financial technology (fintech), there is a high demand for blockchain technology adoption in order to streamline transactions as well as to protect individuals from illegal attempts. PolyU and Monash University have a long history of close collaboration in blockchain research. We are dedicated to make the cyberspace a safer and simpler place for business and financial services in a decentralized and transparent manner.

COMP is the key driving force of blockchain research in Hong Kong and the Greater China Region. Hong Kong being the mid-point between Australia and Greater China, can serve as the bridge to lead in digital transformation and innovation. The recent Belt and Road Initiative proposed by China, provides even greater opportunities for collaboration. These become the solid foundation for the establishment of this joint lab.

The new lab will build practical blockchain-based solutions with rigorous security. Any research advancement made in the lab will be first applied to the Hcash project. Hcash is the first public blockchain established in Australia, also known as HyperCash. It is a digital currency that offers superior capabilities by combining both blockchain and block-less based Directed Acyclic Graph (DAG) systems.

Collinstar Capital, a founding member of the Hcash Foundation, also known as a market leader in fintech, engages in this partnership help strengthening our joint effort. With the generous support of Collinstar Capital, we aim to position the joint lab as the leading research and technology advancement center in Asia-Pacific in the focused areas of blockchain and cryptocurrency.